Tax on money earned by animals?????

gaurav (student) (778 Points)

19 November 2011

If a monkey acts in a movie after permission of his guardian, then who is liable to tax?

the monkey or the guardian??

(*remember monkey has his own talent)

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2 Replies

vishnupriya (CA Final) (1418 Points)
Replied 19 November 2011

Great doubt yaar!

as monkey can never be taxable,( because monkey can't utilize the money)

here the beneficiary is the owner, so he will be taxable under "other sources"

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 19 November 2011

Originally posted by : gaurav
	If a monkey acts in a movie after permission of his guardian, then who is liable to tax? the monkey or the guardian?? (*remember monkey has his own talent)

the receipent of the amount is liable to tax, who is also the guardian to the actor/ actress as per the query.

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